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The planned price hike of bakery products, including bread and biscuits, has been put on hold for the time being following a meeting between the government and business leaders.
The decision was taken at a meeting held at the Ministry of Commerce on Tuesday evening, chaired by Commerce Minister Khandaker Abdul Muktadir.
Representatives of relevant bakery business organisations attended the meeting.
The meeting discussed the recent announcement by traders to raise the prices of bakery products, as well as production and marketing costs.
Following the discussions, business leaders agreed to suspend the proposed price increase for bread and biscuits for now.
A committee headed by the chairman of the Bangladesh Trade and Tariff Commission has also been formed to review production and marketing costs, raw material prices, taxes, duties and other relevant issues related to bakery products.
The committee has been asked to submit its report within seven days.
A further decision will be taken after reviewing the report, according to the Ministry of Commerce.
The government said it would take steps to keep the market for essential food items stable while protecting both consumers’ interests and the legitimate interests of businesses.
It also said necessary measures would be taken in coordination with all relevant stakeholders to ensure the supply of bakery products at reasonable prices.
Officials and business leaders present at the meeting included Commerce Ministry Secretary Md Ataur Rahman Khan, Bangladesh Trade and Tariff Commission Chairman Nasir Uddoula and Directorate of National Consumer Rights Protection Director General Md Zahirul Islam.